Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Mar. 31, 2014 | 13-May-14 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Trading Symbol | 'avxl | ' |
Entity Registrant Name | 'ANAVEX LIFE SCIENCES CORP. | ' |
Entity Central Index Key | '0001314052 | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 38,260,097 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
INTERIM_CONDENSED_CONSOLIDATED
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
Current | ' | ' |
Cash | $9,193,558 | $345,074 |
Prepaid expenses | 28,478 | 48,375 |
Total Current Assets | 9,222,036 | 393,449 |
Deferred financing charges | 1,068,541 | 0 |
Equipment | 1,943 | 0 |
Total Assets | 10,292,520 | 393,449 |
Current | ' | ' |
Accounts payable and accrued liabilities | 1,689,605 | 1,741,797 |
Promissory notes payable | 193,720 | 210,863 |
Total Current Liabilities | 1,883,325 | 1,952,660 |
Derivative financial instruments - warrants | 0 | 904,000 |
Convertible debentures, net of debt discounts | 1,011 | 0 |
Total Liabilities | 1,884,336 | 2,856,660 |
CAPITAL DEFICIT | ' | ' |
Capital stock Authorized: 150,000,000 common shares, par value $0.001 per share Issued and outstanding: 38,260,098 common shares (September 30, 2013 - 37,237,588) | 38,261 | 37,238 |
Additional paid-in capital | 49,595,118 | 38,644,523 |
Common stock to be issued | 640,000 | 60,000 |
Deficit accumulated during the development stage | -41,865,195 | -41,204,972 |
Total Stockholder's Equity | 8,408,184 | -2,463,211 |
Total Liabilities and Stockholder's Equity | $10,292,520 | $393,449 |
INTERIM_CONDENSED_CONSOLIDATED1
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Sep. 30, 2013 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 38,260,098 | 37,237,588 |
Common Stock, Shares, Outstanding | 38,260,098 | 37,237,588 |
INTERIM_CONDENSED_CONSOLIDATED2
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | 122 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Operating expenses | ' | ' | ' | ' | ' |
General and administrative | $903,015 | $126,551 | $1,207,443 | $415,415 | $18,406,207 |
Research and development | 118,152 | 560 | 123,332 | 127,563 | 12,946,128 |
Total operating expenses | -1,021,167 | -127,111 | -1,330,775 | -542,978 | -31,352,335 |
Other income (expenses) | ' | ' | ' | ' | ' |
Interest and finance expenses, net | -5,079 | -16,558 | -8,366 | -26,783 | -685,728 |
Accretion of debt discounts | -1,011 | 0 | -1,011 | 0 | -2,175,672 |
Change in fair value of derivative financial instruments | 0 | 0 | 683,000 | 0 | 234,726 |
Debt conversion expense | 0 | 0 | 0 | 0 | -504,160 |
Loss on settlement of accounts payable | 0 | 0 | 0 | 0 | -1,754,933 |
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | -5,010,868 |
Foreign exchange gain (loss) | 8,397 | 37,569 | -3,071 | 10,144 | -65,421 |
Total other income (expenses), net | 2,307 | 21,011 | 670,552 | -16,639 | -9,962,056 |
Net loss and comprehensive loss for the period | ($1,018,860) | ($106,100) | ($660,223) | ($559,617) | ($41,314,391) |
Loss per share | ' | ' | ' | ' | ' |
Basic | ($0.03) | $0 | ($0.02) | ($0.02) | ' |
Diluted | ($0.03) | $0 | ($0.04) | ($0.02) | ' |
Weighted average number of shares outstanding | ' | ' | ' | ' | ' |
Basic | 37,881,209 | 30,240,687 | 37,680,823 | 30,240,687 | ' |
Diluted | 37,881,209 | 30,240,687 | 37,680,823 | 30,240,687 | ' |
INTERIM_CONDENSED_CONSOLIDATED3
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | 122 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Cash Flows used in Operating Activities | ' | ' | ' |
Net loss for the period | ($660,223) | ($559,617) | ($41,314,391) |
Adjustments to reconcile net loss to net cash used in operations: | ' | ' | ' |
Amortization and depreciation | 384 | 576 | 6,015 |
Accretion of debt discount | 1,011 | 0 | 2,175,672 |
Stock-based compensation | 0 | 0 | 5,845,047 |
Common shares to be issued for services | 610,000 | 0 | 610,000 |
Amortization of deferred financing charge | 1,199 | 1,215 | 165,126 |
Change in fair value of derivative financial instruments | -683,000 | 0 | -234,726 |
Consulting expense recorded in exchange for shares to be issued | 0 | 0 | 236,337 |
Common shares issued for consulting expenses | 0 | 0 | 406,405 |
Promissory note issued for severance | 0 | 0 | 71,500 |
Common shares issued for severance | 0 | 0 | 415,600 |
Common shares issued for research and development expenses | 0 | 0 | 800,000 |
Management fees contributed | 0 | 0 | 14,625 |
Debt conversion expense | 0 | 0 | 504,160 |
Loss on settlement of accounts payable | 0 | 0 | 1,754,933 |
Loss on extinguishment of debt | 0 | 0 | 5,010,868 |
Rent contributed | 0 | 0 | 3,750 |
Unrealized foreign exchange | -17,143 | -3,590 | -22,080 |
Changes in non-cash working capital balances related to operations: | ' | ' | ' |
VAT recoverable | 0 | 0 | 0 |
Prepaid expenses | -12,253 | 0 | -12,253 |
Accounts payable and accrued liabilities | -22,494 | 300,541 | 6,215,965 |
Net cash used in operating activities | -782,519 | -260,875 | -17,347,447 |
Cash Flows used in Investing Activities | ' | ' | ' |
Acquisition of equipment | -2,327 | 0 | -7,958 |
Net cash used in investing activities | -2,327 | 0 | -7,958 |
Cash Flows provided by Financing Activities | ' | ' | ' |
Issuance of common shares, net of share issue costs | 398,170 | 0 | 11,446,288 |
Share subscriptions received | -30,000 | 0 | 30,000 |
Proceeds from promissory notes | 0 | 250,000 | 5,649,000 |
Financing fees | -734,840 | 0 | -842,990 |
Repayment of promissory note | 0 | 0 | -100,000 |
Issuance of convertible debentures | 10,000,000 | 0 | 10,000,000 |
Due to related parties | 0 | 0 | 33,665 |
Shareholder advances | 0 | 0 | 333,000 |
Net cash provided by financing activities | 9,633,330 | 250,000 | 26,548,963 |
Increase (decrease) in cash during the period | 8,848,484 | -10,875 | 9,193,558 |
Cash, beginning of period | 345,074 | 11,362 | 0 |
Cash, end of period | $9,193,558 | $487 | $9,193,558 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Capital Deficit (USD $) | Common Stock [Member] | Common Stock Additional Paid-In Capital [Member] | Common Shares to be Issued [Member] | Deficit Accumulated During the Development Stage [Member] | Total |
Beginning Balance at Sep. 30, 2003 | ' | ' | ' | ' | ' |
Capital stock issued for cash on January 23, 2004 - at $0.0033 | $12,000 | $28,000 | ' | ' | $40,000 |
Capital stock issued for cash on January 23, 2004 - at $0.0033 (Shares) | 12,000,000 | ' | ' | ' | ' |
Net Income (Loss) | ' | ' | ' | -14,395 | -14,395 |
Ending Balance at Sep. 30, 2004 | 12,000 | 28,000 | ' | -14,395 | 25,605 |
Ending Balance (Shares) at Sep. 30, 2004 | 12,000,000 | ' | ' | ' | ' |
Capital stock issued for cash on December 31, 2004 - at $0.0033 | 7,200 | 16,800 | ' | ' | 24,000 |
Capital stock issued for cash on December 31, 2004 - at $0.0033 (Shares) | 7,200,000 | ' | ' | ' | ' |
Management fees contributed | ' | 13,000 | ' | ' | 13,000 |
Rent contributed | ' | 3,000 | ' | ' | 3,000 |
Net Income (Loss) | ' | ' | ' | -91,625 | -91,625 |
Ending Balance at Sep. 30, 2005 | 19,200 | 60,800 | ' | -106,020 | -26,020 |
Ending Balance (Shares) at Sep. 30, 2005 | 19,200,000 | ' | ' | ' | ' |
Management fees contributed | ' | 1,625 | ' | ' | 1,625 |
Rent contributed | ' | 750 | ' | ' | 750 |
Debt forgiven by directors | ' | 33,666 | ' | ' | 33,666 |
Net Income (Loss) | ' | ' | ' | -25,532 | -25,532 |
Ending Balance at Sep. 30, 2006 | 19,200 | 96,841 | ' | -131,552 | -15,511 |
Beginning Balance (Shares) at Sep. 30, 2006 | 19,200,000 | ' | ' | ' | ' |
Capital stock issued for research and development services on September 24, 2007 - at $3.60 | 222 | 799,778 | ' | ' | 800,000 |
Capital stock issued for research and development services on September 24, 2007 - at $3.60 (Shares) | 222,222 | ' | ' | ' | ' |
Capital stock issued for settlement of loan payable on September 25, 2007 - at $3.60 | 93 | 332,907 | ' | ' | 333,000 |
Capital stock issued for settlement of loan payable on September 25, 2007 - at $3.60 (Shares) | 92,500 | ' | ' | ' | ' |
Net Income (Loss) | ' | ' | ' | -1,579,993 | -1,579,993 |
Ending Balance at Sep. 30, 2007 | 19,515 | 1,229,526 | ' | -1,711,545 | -462,504 |
Ending Balance (Shares) at Sep. 30, 2007 | 19,514,722 | ' | ' | ' | ' |
Capital stock issued for cash on December 10, 2007- at $3.50 | 150 | 524,850 | ' | ' | 525,000 |
Capital stock issued for cash on December 10, 2007- at $3.50 (Shares) | 150,000 | ' | ' | ' | ' |
Capital stock issued for consulting services on December 18, 2007 - at $3.86 | 50 | 192,950 | ' | ' | 193,000 |
Capital stock issued for consulting services on December 18, 2007 - at $3.86 (Shares) | 50,000 | ' | ' | ' | ' |
Capital stock issued debt settlement of debt on December 18, 2007- at $4.50 | 10 | 44,990 | ' | ' | 45,000 |
Capital stock issued debt settlement of debt on December 18, 2007- at $4.50 (Shares) | 10,000 | ' | ' | ' | ' |
Stock-based compensation for shares issued at a discount | ' | 65,000 | ' | ' | 65,000 |
Capital stock issued for severance on May 15, 2008 - at $5.24 | 65 | 340,535 | ' | ' | 340,600 |
Capital stock issued for severance on May 15, 2008 - at $5.24 (Share) | 65,000 | ' | ' | ' | ' |
Capital stock issued for consulting services on August 19, 2008 - at $5.07 | 25 | 126,725 | -126,750 | ' | ' |
Capital stock issued for consulting services on August 19, 2008 - at $5.07 (Shares) | 25,000 | ' | ' | ' | ' |
Capital stock issued for cash on August 19,2008 - at $4.25 | 142 | 606,325 | ' | ' | 606,467 |
Capital stock issued for cash on August 19,2008 - at $4.25 (Shares) | 142,698 | ' | ' | ' | ' |
Shares to be issued for consulting services | ' | ' | 252,599 | ' | 252,599 |
Stock based compensation | ' | 1,493,937 | ' | ' | 1,493,937 |
Net Income (Loss) | ' | ' | ' | -5,351,269 | -5,351,269 |
Ending Balance at Sep. 30, 2008 | 19,957 | 4,624,838 | 125,849 | -7,062,814 | -2,292,170 |
Ending Balance (Shares) at Sep. 30, 2008 | 19,957,420 | ' | ' | ' | ' |
Capital stock issued for consulting services on November 20, 2008 at $2.63 | 25 | 65,725 | -65,750 | ' | ' |
Capital stock issued for consulting services on November 20, 2008 at $2.63 (Shares) | 25,000 | ' | ' | ' | ' |
Capital stock issued for consulting services on February 20, 2009 at $2.50 | 25 | 62,475 | -62,500 | ' | ' |
Capital stock issued for consulting services on February 20, 2009 at $2.50 (Shares) | 25,000 | ' | ' | ' | ' |
Capital stock issued for cash on March 6, 2009 at $2.25 | 89 | 200,494 | ' | ' | 200,583 |
Capital stock issued for cash on March 6, 2009 at $2.25 (Shares) | 89,148 | ' | ' | ' | ' |
Capital stock issued for consulting services on March 20, 2009 at $2.00 | 3 | 4,997 | ' | ' | 5,000 |
Capital stock issued for consulting services on March 20, 2009 at $2.00 (Shares) | 2,500 | ' | ' | ' | ' |
Capital stock issued for cash on March 20, 2009 at $2.25 | 11 | 24,289 | ' | ' | 24,300 |
Capital stock issued for cash on March 20, 2009 at $2.25 (Shares) | 10,800 | ' | ' | ' | ' |
Capital stock issued for cash on June 11, 2009 at $2.25 | 36 | 80,964 | ' | ' | 81,000 |
Capital stock issued for cash on June 11, 2009 at $2.25 (Shares) | 36,000 | ' | ' | ' | ' |
Capital stock issued for services on June 11, 2009 at $2.25 | 29 | 65,731 | ' | ' | 65,760 |
Capital stock issued for services on June 11, 2009 at $2.25 (Shares) | 29,227 | ' | ' | ' | ' |
Capital stock issued for cash on June 19, 2009 at $2.25 | 496 | 1,114,504 | ' | ' | 1,115,000 |
Capital stock issued for cash on June 19, 2009 at $2.25 (Shares) | 495,556 | ' | ' | ' | ' |
Capital stock issued for finders fees on June 26, 2009 at $2.51 | 22 | 55,755 | ' | ' | 55,777 |
Capital stock issued for finders fees on June 26, 2009 at $2.51 (Shares) | 22,222 | ' | ' | ' | ' |
Shares to be issued for consulting services | ' | ' | 236,337 | ' | 236,337 |
Capital stock issued for cash on August 19, 2009 at $2.25 | 129 | 289,869 | ' | ' | 289,998 |
Capital stock issued for cash on August 19, 2009 at $2.25 (Shares) | 128,888 | ' | ' | ' | ' |
Less: Finders fees | ' | -72,850 | ' | ' | -72,850 |
Beneficial conversion features on convertible debt issuances | ' | 333,056 | ' | ' | 333,056 |
Extinguishment of debt | ' | 487,469 | ' | ' | 487,469 |
Cancellation of common shares | -75 | 234,011 | -233,936 | ' | ' |
Cancellation of common shares (Shares) | -75,000 | ' | ' | ' | ' |
Share subscriptions received | ' | ' | 300,000 | ' | 300,000 |
Stock based compensation | ' | 812,336 | ' | ' | 812,336 |
Net Income (Loss) | ' | ' | ' | -5,499,419 | -5,499,419 |
Ending Balance at Sep. 30, 2009 | 20,747 | 8,383,663 | 300,000 | -12,562,233 | -3,857,823 |
Ending Balance (Shares) at Sep. 30, 2009 | 20,746,761 | ' | ' | ' | ' |
Cumulative effect of accounting changes | ' | -333,056 | ' | -550,804 | -883,860 |
Capital stock issued for cash on October 2, 2009 at $2.25 | 267 | 599,733 | -300,000 | ' | 300,000 |
Capital stock issued for cash on October 2, 2009 at $2.25 (Shares) | 266,666 | ' | ' | ' | ' |
Capital stock issued in settlement of promissory note on February 2, 2010 at $2.02 | 49 | 99,951 | ' | ' | 100,000 |
Capital stock issued in settlement of promissory note on February 2, 2010 at $2.02 (Shares) | 49,505 | ' | ' | ' | ' |
Capital stock issued for cash on April 9, 2010 - at $2.60 | 93 | 240,405 | ' | ' | 240,498 |
Capital stock issued for cash on April 9, 2010 - at $2.60 (Shares) | 92,499 | ' | ' | ' | ' |
Capital stock issued in settlement of debt on April 30, 2010 - at $2.85 | 9 | 27,991 | ' | ' | 28,000 |
Capital stock issued in settlement of debt on April 30, 2010 - at $2.85 (Shares) | 9,825 | ' | ' | ' | ' |
Finders' fees paid in cash | ' | -24,050 | ' | ' | -24,050 |
Capital stock issued for cash on June 29, 2010 - at $2.50 | 941 | 2,351,559 | ' | ' | 2,352,500 |
Capital stock issued for cash on June 29, 2010 - at $2.50 (Shares) | 941,000 | ' | ' | ' | ' |
Finders fees paid in cash 2 | ' | -206,500 | ' | ' | -206,500 |
Capital stock issued in settlement of debt on July 5, 2010 at $2.50 | 400 | 999,600 | ' | ' | 1,000,000 |
Capital stock issued in settlement of debt on July 5, 2010 at $2.50 (Shares) | 400,000 | ' | ' | ' | ' |
Capital stock issued for cash on September 3, 2010 at $2.75 | 163 | 448,087 | ' | ' | 448,250 |
Capital stock issued for cash on September 3, 2010 at $2.75 (Shares) | 163,000 | ' | ' | ' | ' |
Capital stock issued for finders fees on September 3, 2010 at $2.75 | 9 | -9 | ' | ' | ' |
Capital stock issued for finders fees on September 3, 2010 at $2.75 (Shares) | 9,000 | ' | ' | ' | ' |
Finders' fees paid in cash 3 | ' | -15,125 | ' | ' | -15,125 |
Shares issued on conversion of promissory note on September 30, 2010 at $2.25 | 328 | 737,802 | ' | ' | 738,130 |
Shares issued on conversion of promissory note on September 30, 2010 at $2.25 (Shares) | 328,058 | ' | ' | ' | ' |
Shares issued on conversion of promissory note on September 30, 2010 at $2.35 | 511 | 1,199,489 | ' | ' | 1,200,000 |
Shares issued on conversion of promissory note on September 30, 2010 at $2.35 (Shares) | 510,638 | ' | ' | ' | ' |
Reclassification of derivative liability on modification of note | ' | 3,144,520 | ' | ' | 3,144,520 |
Settlement of accounts payable | ' | 444,000 | ' | ' | 444,000 |
Equity component of convertible promissory note | ' | 44,220 | ' | ' | 44,220 |
Stock based compensation | ' | 770,055 | ' | ' | 770,055 |
Net Income (Loss) | ' | ' | ' | -8,783,037 | -8,783,037 |
Ending Balance at Sep. 30, 2010 | 23,517 | 18,912,335 | ' | -21,896,074 | -2,960,222 |
Ending Balance (Shares) at Sep. 30, 2010 | 23,516,952 | ' | ' | ' | ' |
Capital stock issued for cash on November 18, 2010 at $2.75 | 393 | 1,082,682 | ' | ' | 1,083,075 |
Capital stock issued for cash on November 18, 2010 at $2.75 (Shares) | 393,846 | ' | ' | ' | ' |
Less: Share issue costs | ' | -65,363 | ' | ' | -65,363 |
Capital stock issued for finders fees on November 18, 2010 at $2.75 | 4 | -4 | ' | ' | ' |
Capital stock issued for finders fees on November 18, 2010 at $2.75 (Shares) | 3,636 | ' | ' | ' | ' |
Shares issued on conversion of promissory note on November 18, 2010 at $2.25 | 853 | 1,918,565 | ' | ' | 1,919,418 |
Shares issued on conversion of promissory note on November 18, 2010 at $2.25 (Shares) | 853,075 | ' | ' | ' | ' |
Debt conversion expense | ' | 504,160 | ' | ' | 504,160 |
Shares issued on the conversion of a promissory note on November 18, 2010 - at $4.12 | 145 | 597,515 | ' | ' | 597,660 |
Shares issued on the conversion of a promissory note on November 18, 2010 - at $4.12 (Shares) | 145,063 | ' | ' | ' | ' |
Capital stock issued in settlement of debt on November 18, 2010 - at $4.12 | 182 | 748,908 | ' | ' | 749,090 |
Capital stock issued in settlement of debt on November 18, 2010 - at $4.12 (Shares) | 181,818 | ' | ' | ' | ' |
Capital stock issued for cash on November 25, 2010 at $3.35 | 30 | 99,970 | ' | ' | 100,000 |
Capital stock issued for cash on November 25, 2010 at $3.35 (Shares) | 29,851 | ' | ' | ' | ' |
Capital stock issued for finders fees on November 25, 2010 at $3.35 | 3 | -3 | ' | ' | ' |
Capital stock issued for finders fees on November 25, 2010 at $3.35 (Shares) | 2,985 | ' | ' | ' | ' |
Capital stock issued for cash on February 1, 2011 - at $3.75 | 61 | 228,739 | ' | ' | 228,800 |
Capital stock issued for cash on February 1, 2011 - at $3.75 (Shares) | 61,014 | ' | ' | ' | ' |
Capital stock issued for cash on May 3, 2011 - at $3.00 | 34 | 99,966 | ' | ' | 100,000 |
Capital stock issued for cash on May 3, 2011 - at $3.00 (Shares) | 33,334 | ' | ' | ' | ' |
Capital stock issued on exercise of warrants for cash on June 19, 2011 - at $2.25 | 700 | 1,574,300 | ' | ' | 1,575,000 |
Capital stock issued on exercise of warrants for cash on June 19, 2011 - at $2.25 (Shares) | 700,000 | ' | ' | ' | ' |
Equity units issued in settlement of an account payable on September 28, 2011 | 650 | 1,059,313 | ' | ' | 1,059,963 |
Equity units issued in settlement of an account payable on September 28, 2011 (Shares) | 650,000 | ' | ' | ' | ' |
Stock based compensation | ' | 1,273,162 | ' | ' | 1,273,162 |
Net Income (Loss) | ' | ' | ' | -7,307,147 | -7,307,147 |
Ending Balance at Sep. 30, 2011 | 26,572 | 28,034,245 | ' | -29,203,221 | -1,142,404 |
Ending Balance (Shares) at Sep. 30, 2011 | 26,571,574 | ' | ' | ' | ' |
Capital stock issued for cash on December 6, 2011 - at $1.25 | 616 | 768,884 | ' | ' | 769,500 |
Capital stock issued for cash on December 6, 2011 - at $1.25 (Shares) | 615,600 | ' | ' | ' | ' |
Less: Share issue costs | ' | -77,000 | ' | ' | -77,000 |
Capital stock issued for cash on February 9, 2012 - at $1.25 | 270 | 337,230 | ' | ' | 337,500 |
Capital stock issued for cash on February 9, 2012 - at $1.25 Shares | 270,000 | ' | ' | ' | ' |
Less: Share Issue costs 2 | ' | -33,750 | ' | ' | -33,750 |
Equity units issued for services on February 9, 2012 - at $1.99 | 8 | 15,888 | ' | ' | 15,896 |
Equity units issued for services on February 9, 2012 - at $1.99 (Share) | 8,000 | ' | ' | ' | ' |
Equity units issued for settlement of loans payable on May 31, 2012 | 2,700 | 5,176,884 | ' | ' | 5,179,584 |
Equity units issued for settlement of loans payable on May 31, 2012 (Share) | 2,700,513 | ' | ' | ' | ' |
Capital stock issued for services on July 12, 2012 - at $1.00 | 75 | 74,925 | ' | ' | 75,000 |
Capital stock issued for services on July 12, 2012 - at $1.00 (Shares) | 75,000 | ' | ' | ' | ' |
Stock based compensation | ' | 302,208 | ' | ' | 302,208 |
Net Income (Loss) | ' | ' | ' | -8,301,705 | -8,301,705 |
Ending Balance at Sep. 30, 2012 | 30,241 | 34,599,514 | ' | -37,504,926 | -2,875,171 |
Ending Balance (Shares) at Sep. 30, 2012 | 30,240,687 | ' | ' | ' | ' |
Equity units issued for settlement of loans payable on July 5, 2013 | 4,209 | 2,563,011 | ' | ' | 2,567,220 |
Equity units issued for settlement of loans payable on July 5, 2013 (Shares) | 4,208,910 | ' | ' | ' | ' |
Capital stock issued for cash on July 5, 2013 - at $0.40 | 2,196 | 563,257 | ' | ' | 565,453 |
Capital stock issued for cash on July 5, 2013 - at $0.40 (Shares) | 2,196,133 | ' | ' | ' | ' |
Less: Share issue costs | ' | -112,174 | ' | ' | -112,174 |
Initial purchase shares issued under equity line on July 5, 2013 - at $0.40 | 592 | 99,750 | ' | ' | 100,342 |
Initial purchase shares issued under equity line on July 5, 2013 - at $0.40 (Shares) | 591,858 | ' | ' | ' | ' |
Less: Share Issue costs 2 | ' | -71,335 | ' | ' | -71,335 |
Common stock to be issued for cash - at $0.50 | ' | ' | 60,000 | ' | 60,000 |
Stock based compensation | ' | 1,002,500 | ' | ' | 1,002,500 |
Net Income (Loss) | ' | ' | ' | -3,700,046 | -3,700,046 |
Ending Balance at Sep. 30, 2013 | 37,238 | 38,644,523 | 60,000 | -41,204,972 | -2,463,211 |
Ending Balance (Shares) at Sep. 30, 2013 | 37,237,588 | ' | ' | ' | ' |
Rent contributed | ' | ' | ' | ' | 0 |
Reclassification of derivative liability upon modification of warrant terms | ' | 221,000 | ' | ' | 221,000 |
Equity units issued under Purchase Agreement | 400 | 187,770 | ' | ' | 188,170 |
Equity units issued under Purchase Agreement (Shares) | 400,000 | ' | ' | ' | ' |
Commitment shares issued under terms of Purchase Agreement | 3 | -3 | ' | ' | ' |
Commitment shares issued under terms of Purchase Agreement (Shares) | 2,510 | ' | ' | ' | ' |
Capital stock issued for cash - at $0.50 | 120 | 59,880 | -60,000 | ' | ' |
Capital stock issued for cash - at $0.50 (Shares) | 120,000 | ' | ' | ' | ' |
Capital stock issued for cash - at $0.30 | 500 | 149,500 | 30,000 | ' | 180,000 |
Capital stock issued for cash - at $0.30 (Shares) | 500,000 | ' | ' | ' | ' |
Share issue costs, net of recovery | ' | -2,452 | ' | ' | -2,452 |
Issuance of detachable warrants | ' | 5,989,900 | ' | ' | 5,989,900 |
Agent's warrants issued in connection with convertible debentures | ' | 334,900 | ' | ' | 334,900 |
Beneficial conversion feature on convertible debentures issued | ' | 4,010,100 | ' | ' | 4,010,100 |
Capital stock to be issued pursuant to employment agreement | ' | ' | 610,000 | ' | 610,000 |
Net Income (Loss) | ' | ' | ' | -660,223 | -660,223 |
Ending Balance at Mar. 31, 2014 | $38,261 | $49,595,118 | $640,000 | ($41,865,195) | $8,408,184 |
Ending Balance (Shares) at Mar. 31, 2014 | 38,260,098 | ' | ' | ' | ' |
Business_Description_Basis_of_
Business Description, Basis of Presentation and Liquidity | 6 Months Ended | |
Mar. 31, 2014 | ||
Business Description, Basis of Presentation and Liquidity [Text Block] | ' | |
Note 1 | Business Description, Basis of Presentation and Liquidity | |
Business | ||
Anavex Life Sciences Corp. (the “Company”) is a pharmaceutical company engaged in the development of drug candidates. | ||
The Company’s lead compound, ANAVEX 2-73 is being developed to treat Alzheimer’s disease through disease modification. | ||
In pre-clinical studies conducted in France and in Greece, ANAVEX 2-73 demonstrated anti- amnesic and neuroprotective properties. Based on these pre-clinical studies, the Company sponsored a Phase 1 single ascending dose study of ANAVEX 2-73, which was initiated and completed in 2011. This study was conducted in Germany in collaboration with ABX-CRO Advanced Pharmaceutical Services. The study indicated that ANAVEX 2-73 was well tolerated by study subjects in doses up to 55mg. Clinical trials had been delayed due to lack of funding. During the six months ended March 31, 2014, the Company completed the closing of a securities purchase agreement in the aggregate principal amount of $10,000,000 (Note 6), the proceeds from which the Company intends to use to further its business plan and clinical trials of ANAVEX 2-73 and ANAVEX PLUS. | ||
The Company plans to continue human clinical trials, among them a prospective Phase 2a study of ANAVEX 2-73 and ANAVEX PLUS, and a Phase 2 trial thereafter and to identify and initiate discussions with potential partners in the next 12 months. Further, the Company may acquire or develop new intellectual property and assign, license, or otherwise transfer our intellectual property to further its goals. | ||
Basis of Presentation and Liquidity | ||
These interim condensed consolidated financial statements have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the annual financial statements in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the disclosures are adequate to make the information presented not misleading. | ||
These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained herein. These interim condensed financial statements should be read in conjunction with the audited financial statements included in its annual report on Form 10-K for the year ended September 30, 2013. The Company follows the same accounting policies in the preparation of interim reports. | ||
Certain amounts for the prior periods have been reclassified to conform to the current period's presentation. These reclassifications did not impact reported results or earnings per share. | ||
Operating results for the six months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ended September 30, 2014. | ||
Basic and Diluted Loss per Share | ||
The basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Additionally, the numerator is also adjusted for changes in fair value of the warrant liability which is presumed to be share settled. For the six months ended March 31, 2014, loss per share excludes 77,305,632 (2012 – 4,697,847) potentially dilutive common shares (related to outstanding options and warrants) as their effect was anti- dilutive. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | |
Mar. 31, 2014 | ||
Recent Accounting Pronouncements [Text Block] | ' | |
Note 2 | Recent Accounting Pronouncements | |
There are no new accounting pronouncements that the Company recently adopted or are pending the Company’s adoption that are expected to have a material impact on the Company’s results of operations, financial position or cash flows. |
Equipment
Equipment | 6 Months Ended | ||||||||||
Mar. 31, 2014 | |||||||||||
Equipment [Text Block] | ' | ||||||||||
Note 3 | Equipment | ||||||||||
31-Mar-14 | |||||||||||
Accumulated | |||||||||||
Cost | Depreciation | Net | |||||||||
Computer equipment | $ | 2,327 | $ | 384 | $ | 1,943 | |||||
30-Sep-13 | |||||||||||
Accumulated | |||||||||||
Cost | Depreciation | Net | |||||||||
Computer equipment | $ | 5,631 | $ | 5,631 | $ | - |
Derivative_Liabilities
Derivative Liabilities | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Derivative Liabilities [Text Block] | ' | |||||||
Note 4 | Derivative Financial Instruments | |||||||
During the year ended September 30, 2013, the Company issued an aggregate of 6,448,966 common stock purchase warrants that were required to be accounted for as liabilities pursuant to ASC 815. | ||||||||
At September 30, 2013, these common stock purchase warrants were still outstanding and were being accounted for pursuant to the guidance of ASC 815, whereby these derivative instruments are required to be recorded as liabilities on the balance sheet measured at fair value and were marked-to-market at each balance sheet date with the change in fair value being recorded in the consolidated statements of operations as other income or expense. | ||||||||
Effective in the six months ended March 31, 2014, the common stock purchase warrants were amended. As of the modification date, these warrants are no longer required to be accounted for as liabilities. | ||||||||
Pursuant to the guidance of ASC 815, the Company reclassified the fair value of these instruments on the date of modification into equity, with the change in fair value up to the date of modification being recorded on the consolidated statements of operations as other income. | ||||||||
A summary of the Company’s derivative liabilities for the three months ended March 31, 2014 and for the year ended September 30, 2013 is as follows: | ||||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Balance, beginning of the period | $ | 904,000 | $ | - | ||||
Fair value at issuance of derivative liability | - | 919,000 | ||||||
Change in fair value of derivative liability | (683,000 | ) | (15,000 | ) | ||||
Transfer to equity upon modification of warrant terms | (221,000 | ) | - | |||||
Balance, end of the period | $ | - | $ | 904,000 |
Promissory_Notes_Payable
Promissory Notes Payable | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Promissory Notes Payable [Text Block] | ' | |||||||
Note 5 | Promissory Notes Payable | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Promissory note dated December 31, 2012 with a principal balance of $90,390 (CDN$100,000) bearing interest at 12% per annum, due on June 30, 2014 | 90,390 | 100,000 | ||||||
Promissory note dated January 9, 2013 with a principal balance of $78,348 (CDN$86,677), bearing interest at 12% per annum, secured by all the present and future assets of the Company; due on demand | 78,348 | 84,060 | ||||||
Promissory note dated January 9, 2013 with a principal balance of $24,982 (CDN$27,639), bearing interest at 12% per annum, secured by all the present and future assets of the Company; due on demand | 24,982 | 26,803 | ||||||
193,720 | 210,863 | |||||||
Less: current portion | (193,720 | ) | (210,863 | ) | ||||
$ | - | $ | - | |||||
On December 31, 2012, the Company issued a promissory note having a principal balance of $90,390 (CDN$100,000) with terms that included interest at 12% per annum and matured on June 30, 2013, in exchange for an accounts payable owing with respect to unpaid consulting fees. This note was not repaid on June 30, 2013 and the maturity date has been extended to June 30, 2014. | ||||||||
On January 9, 2013, the Company issued two (2) promissory notes (the “Secured Notes”); | ||||||||
a) | The Company issued a promissory note in the amount of $78,348 (CDN$86,677) to the former President, Secretary, Treasurer, CFO and director of the Company (the “President”) in exchange for unpaid consulting fees owing to the President. The note is bearing interest at 12% per annum and was due June 30, 2013. | |||||||
b) | The Company issued a promissory note in the amount of $24,982 (CDN$27,639) to a former director of the Company (the “Director”) in exchange for unpaid consulting fees owing to the Director. The note is bearing interest at 12% per annum and was due June 30, 2013. | |||||||
The Secured Notes are secured by a right to delay the transfer of any or all of the Company’s assets until the obligations of the Secured Notes are satisfied, including a restriction on the transfer of cash by the Company and a security interest over the intellectual property of the Company. The security interests of the Secured Notes is ranked senior to any and all security interests granted prior to the issuance of the notes and to all subsequent security interests granted, unless the holders agree in writing to other terms. | ||||||||
In addition, the Secured Notes contain a provision whereby if they are not repaid within 10 days of their maturity dates, they shall bear late fees in addition to interest accruing, at a rate of $100 per day per note. In an event of default by the Company, under the terms of the Secured Notes, the notes shall bear additional late fees of $500 per day per note. | ||||||||
Subsequent to the issuance of these Secured Notes, the former President resigned as President, Secretary, Treasurer, CFO and director of the Company and the former Director resigned as director of the Company. | ||||||||
The Company did not repay the notes on June 30, 2013. The Company has disputed the issuance and enforceability of the Secured Notes and should there be an attempt to enforce the Secured Notes or collection on them, the Company will consider a legal remedy. The Company has not accrued any late fees in connection with these Secured Notes as of March 31, 2014 or September 30, 2013, as the Company does not consider these amounts to be legally enforceable. |
Senior_Convertible_Debentures
Senior Convertible Debentures | 6 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Senior Convertible Debentures [Text Block] | ' | |||||||||
Note 6 | Senior Convertible Debentures | |||||||||
March 31, | September 30, | |||||||||
2014 | 2013 | |||||||||
Senior Convertible Debentures, non-interest bearing, unsecured, due March 18, 2044 | 10,000,000 | - | ||||||||
Less: Debt Discount | (9,998,989 | ) | - | |||||||
1,011 | - | |||||||||
Less: current portion | (1,011 | ) | - | |||||||
$ | - | $ | - | |||||||
On March 13, 2014, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain purchasers (the “Purchasers”) pursuant to which the Company issued senior convertible debentures in the aggregate principal amount of $10,000,000 (the “Debentures”). | ||||||||||
In connection with the issuance of the Debentures, the Company issued an aggregate of 67,666,666 share purchase warrants as follows: | ||||||||||
Non- | ||||||||||
Purchasers | purchasers | Total | ||||||||
Series A Warrants | 33,333,333 | 500,000 | 33,833,333 | |||||||
Series B Warrants | 33,333,333 | 500,000 | 33,833,333 | |||||||
66,666,666 | 1,000,000 | 67,666,666 | ||||||||
Each Series A warrant is exercisable into one common share of the Company at $0.30 per share until March 18, 2019. | ||||||||||
Each Series B warrant is exercisable into one common share of the Company at $0.42 per share until March 18, 2019 | ||||||||||
The Debentures are unsecured, non-interest bearing and are due on March 18, 2044. At any time, the Purchasers are entitled to convert the Debentures, in whole or in part, into common shares of the Company at $0.30 per share (“the Conversion Price”). The Conversion Price of the debenture will be adjusted in the event of common stock dividend, split or consolidation. | ||||||||||
Pursuant to the guidance of ASC 470-20 Debt with Conversion and Other Options, the Company allocated the proceeds from the issuance of the Debentures between the Debentures and the detachable Purchaser warrants using the relative fair value method. The fair value of the Purchaser warrants of $22,326,200 at issuance resulted in a debt discount at issuance of $5,989,900. | ||||||||||
The Company recorded a beneficial conversion feature discount of $4,010,100 in respect of the Debentures issued, based on the intrinsic value of the conversion feature limited to a maximum of the total proceeds of the Debentures allocated to the Debentures. | ||||||||||
The total debt discount at issuance of $10,000,000 is being amortized using the effective interest method over the term of the Debentures. During the six months ended March 31, 2014, the Company recorded accretion expense of $1,011 (2013: $Nil) in respect of the accretion of this discount. | ||||||||||
In consideration for the Debentures issued, the Company issued an aggregate of 1,000,000 share purchase warrants to non-lenders as described above. The fair value of the Non- Purchaser Warrants of $334,900, along with finder’s fees and other financing costs directly associated with the issuance of the Debentures in the amount of $734,840, was recorded as a deferred financing charge and is being amortized to income over the term of the Debentures using the effective interest method. During the six months ended March 31, 2014, the Company had recorded financing expense of $1,199 (2013: $Nil) in respect of the amortization of these charges. Accumulated amortization as at March 31, 2014 was $1,199 (2013: $Nil). | ||||||||||
The fair value of the Purchaser and Non-Purchaser warrants at issuance was determined using the Black Scholes option pricing model with the following weighted average assumptions: | ||||||||||
Risk-free interest rate | 1.56% | |||||||||
Expected life (years) | 5 | |||||||||
Expected volatility | 97.16% | |||||||||
Dividend yields | 0.00% | |||||||||
In connection with the Purchase Agreement, the Company also entered into a registration rights agreement with each Purchaser whereby the Company agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of the Company’s common stock issuable upon conversion of the Debentures and upon exercise of the Purchaser warrants. | ||||||||||
The Registration Statement was filed with the SEC on April 11, 2014. |
Capital_Stock
Capital Stock | 6 Months Ended | |
Mar. 31, 2014 | ||
Capital Stock [Text Block] | ' | |
Note 7 | Capital Stock | |
On May 24, 2006, the board of directors approved a six (6) for one (1) forward split of the authorized issued and outstanding common stock. The Company’s authorized capital increased from 25,000,000 shares of common stock to 150,000,000 shares of common stock. | ||
On September 24, 2007, the Company issued 222,222 common shares at $3.60 per share for a total of $800,000 for research and development expenses. The common shares were recorded based upon the quoted market price of the Company’s common stock on the agreement date. | ||
On September 25, 2007, the Company settled a loan payable in the amount of $333,000 by issuing 92,500 common shares at $3.60 per share, being the quoted market price of the Company’s common stock on the settlement date. | ||
On December 10, 2007, the Company issued 150,000 units at $3.50 per unit for proceeds of $525,000. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at $5.00 per share until December 10, 2009. | ||
On December 18, 2007, the Company issued 10,000 shares at $4.50 per share for a total of $45,000 pursuant to an agreement to settle a debt and issued 50,000 shares at $3.86 per share for a total of $193,000 pursuant to a consulting agreement. The Company recorded compensation expense of $65,000 in respect of these issuances based on the excess of the fair value of these shares over the balances at which they were recorded by the Company. | ||
On May 15, 2008, the Company issued 65,000 common shares at $5.24 per share for a total of $340,600 to its former CEO in accordance with the terms of a severance agreement upon the termination of his services. The common shares were recorded based upon the quoted market price of the Company’s common stock on the agreement date. | ||
On August 19, 2008, the Company issued 25,000 common shares at $5.07 per share for a total of $126,750 to a director of the Company pursuant to an agreement to provide consulting services. The common shares were recorded based upon the quoted market price of the Company’s common stock on the agreement date. | ||
On August 19, 2008, the Company issued 142,698 units at $4.25 per unit for proceeds of $606,467 pursuant to private placement agreements. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at $5.00 per share until August 19, 2009. | ||
On November 20, 2008, the Company issued 25,000 common shares at $2.63 per share for a total of $65,750 to a director of the Company pursuant to an agreement to provide consulting services. The common shares were recorded based upon the quoted market price of the Company’s common stock on the issuance date. | ||
On February 20, 2009, the Company issued 25,000 common shares at $2.50 per share for a total of $62,500 to a director of the Company pursuant to an agreement to provide consulting services. The common shares were recorded based upon the quoted market price of the Company’s common stock on the issuance date. | ||
On March 6, 2009, the Company issued 89,148 units at $2.25 per unit for proceeds of $200,583 pursuant to private placement agreements. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at $4.00 per share until March 6, 2010. | ||
On March 20, 2009, the Company issued 10,800 units at $2.25 per unit for proceeds of $24,300 pursuant to private placement agreements. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at $4.00 per share until March 20, 2010. | ||
On March 20, 2009, the Company issued 2,500 common shares at $2.00 per share for a total of $5,000 to a public relations consultant pursuant to an agreement to provide consulting services. The common shares were recorded based upon the quoted market price of the Company’s common stock on the issuance date. | ||
On May 14, 2009, the Company entered into a revised consulting agreement with a director whereby the consultant returned 75,000 common shares to the Company for cancellation. The return of shares was recorded in the same amount at which they were originally issued. | ||
On June 11, 2009 the Company issued 36,000 units at $2.25 per unit for proceeds of $81,000 pursuant to private placement agreements. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at $4.00 per share until June 11, 2010. The Company paid finder’s fees in the amount of $8,100 in relation to this private placement. | ||
On June 11, 2009 the Company issued 29,227 common shares at $2.25 per share for service rendered by consultants. The common shares were recorded based upon the fair value of the Company’s common stock on the issuance date of the shares. | ||
On June 19, 2009, the Company issued 495,556 units at $2.25 per unit for total proceeds of $1,115,000 pursuant to private placement agreements. Each unit consisted of one common share and one and one-half of a common share purchase warrant entitling the holder to purchase additional common shares at $2.25 per share until June 19, 2011. | ||
On June 26, 2009, the Company issued 22,222 common shares at $2.51 per share for finder’s fees related to the issuance of a $500,000 note payable. The common shares were recorded based upon the quoted market price of the Company’s common stock on the issue date. | ||
On August 19, 2009, the Company issued 128,888 units at $2.25 per unit for total proceeds of $289,998. Of these placements, 40,000 units consisted of one common share and one share purchase warrant entitling the holder to purchase an additional common share at $4.00 per share until July 9, 2010 and 88,888 Units consisted of one common share and one and one- eighth share purchase warrant entitling the holder to purchase an additional common shares at $2.25 per share until August 4, 2011. The Company paid finders’ fees totalling $19,000 in relation to these private placements. | ||
On October 2, 2009 the Company issued 266,666 units at $2.25 per unit for proceeds of $600,000 pursuant to private placement agreements. Each unit consisted of one common share and one and one-eighth common share purchase warrant entitling the holder to purchase an additional common shares at $2.25 per share until October 2, 2011. The Company had received $300,000 of this amount in the year ended September 30, 2010. | ||
On February 2, 2010 the Company issued 49,505 common shares of the Company, at their fair value of $2.02 per share pursuant to an agreement with a former officer to settle an outstanding amount owed. | ||
On April 9, 2010, the Company issued 92,499 units at $2.60 per unit for proceeds of $240,498 pursuant to private placement agreements. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $3.50 per share until April 9, 2011. | ||
On April 30, 2010, the Company issued 9,825 common shares of the Company, at $2.85 per share as consideration for terminating a consulting agreement and for services rendered under the agreement. The common shares were recorded based upon the quoted market price of the Company’s common stock on the date of the termination of the agreement. | ||
On June 29, 2010, the Company issued 941,000 units at $2.50 per unit for total proceeds of $2,352,500 pursuant to private placement agreements. Each unit consisted of one common share and one-half of a common share purchase warrant entitling the holder to purchase additional common shares at $3.50 per share until December 29, 2011. | ||
On July 5, 2010, the Company issued 400,000 units in settlement of $1,000,000 owing to a creditor. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at 3.50 per share until January 5, 2012. The fair value of the units issued was determined to be $1,444,000 on the date they were issued and thus the Company recorded a loss on settlement of accounts payable of $444,000 with a corresponding credit to additional paid-in capital of the same amount on date of issuance. The fair value of the shares included in the units was determined with reference to their quoted market price and the value of the warrants was determined using the Black-Scholes model with the following assumptions: exercise price - $3.50, stock price - $3.15, expected volatility – 68.45%, expected life – 1.5 years, dividend yield – 0.00%. | ||
On September 3, 2010, the Company issued 163,000 units at $2.75 per unit for proceeds of $448,250 pursuant to private placement agreements. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $3.75 per share until March 3, 2012. | ||
On September 3, 2010, the Company issued 9,000 units at $2.75 per unit for finder’s fees related to the private placement of the same date. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $3.75 per share until March 3, 2012. | ||
On September 30, 2010, the Company issued 510,638 common shares at $2.35 per share pursuant to the terms of a convertible note payable. | ||
On September 30, 2010, the Company issued 82,310 units at $2.25 per unit pursuant to the terms of convertible notes payable. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $3.50 per share until September 30, 2011. | ||
On September 30, 2010, the Company issued 245,748 units at $2.25 per unit pursuant to the terms of convertible notes payable. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $3.00 per share until September 30, 2012. | ||
On November 18, 2010, the Company issued 393,846 units at $2.75 per unit for proceeds of $1,083,075 pursuant to a private placement agreement. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $4.50 per share until May 18, 2012. The Company paid a finder’s fee totalling $65,363 in respect of this private placement. | ||
On November 18, 2010, the Company issued 3,636 units at $2.75 per unit for finder’s fees related to the private placement of the same date. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $4.50 per share until May 18, 2012. | ||
On November 18, 2010, the Company issued 853,075 units in the conversion of two notes payable originally convertible at $2.50. The Company recorded debt conversion expense of $504,160, related to the fair value of the additional units issued as a result of converting at the lower conversion price. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $3.00 per share until November 18, 2012. The fair value of the shares included in the units was determined with reference to their quoted market price and the value of the warrants was determined using the Black-Scholes model with the following assumptions: exercise price - $3.00, stock price - $4.12, expected volatility – 78.33%, expected life – 2.0 years, dividend yield – 0.00%, risk-free rate – 0.52%. | ||
On November 18, 2010, the Company issued 145,063 shares of common stock at their fair value of $4.12 per share based on their quoted market price pursuant to settling non- convertible interest bearing notes payable outstanding in the amount of $398,922, including accrued interest of $26,032. The Company recorded a loss on settlement of debt of $198,738 based on the difference between the carrying value of the debt settled and the fair value of the shares issued. | ||
On November 18, 2010, the Company issued 181,818 shares of common stock at their fair value of $4.12 per share based on the quoted value of units issued in a private placement on the same date to one creditor in settlement of $500,000 of debt owing. The Company recorded a loss on settlement of accounts payable of $249,090 based on the difference of the carrying value of the account payable and the fair value of the shares issued. | ||
On November 25, 2010, the Company issued 29,851 units at $3.35 per unit for proceeds of $100,000 pursuant to a private placement agreement. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $4.50 per share until November 25, 2012. | ||
On November 25, 2010, the Company issued 2,985 units at $3.35 per unit for finder’s fees related to the private placement of the same date. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $4.50 per share until November 25, 2012. | ||
On February 1, 2011, the Company issued 61,014 units at $3.75 per unit for proceeds of $228,800 pursuant to a private placement agreement. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $5.25 per share until August 1, 2012. | ||
On May 3, 2011, the Company issued 33,334 units at $3.00 per unit for proceeds of $100,000 pursuant to a private placement agreement. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $4.00 per share until April 20, 2013. | ||
On June 19, 2011, the Company issued 700,000 common shares at $2.25 per share for proceeds of $1,575,000 pursuant to the exercise of warrants. | ||
On September 26, 2011, the Company issued 650,000 units in settlement of $975,000 of debt owing. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $2.00 per share until September 26, 2012. The Company recorded a loss on settlement of accounts payable in the amount of $84,963 based on the fair value of shares being $975,000 at their issuance and the fair value of the warrants determined to be $84,963. The fair value of the shares included in the units was determined with reference to their quoted market price and the value of the warrants was determined using the Black-Scholes model with the following assumptions: exercise price - $2.00, stock price - $1.50, expected volatility – 69%, expected life – 1.0 years, dividend yield – 0.00%, risk-free interest rate – 0.10%. | ||
On December 6, 2011, the Company issued 615,600 units at $1.25 per unit for proceeds of $769,500 pursuant to private placement agreements. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $2.00 per share until December 6, 2012. The Company paid finder’s fees of $77,000 in connection with this private placement. | ||
On February 9, 2012 the Company issued 8,000 units for service rendered by a director and officer of the Company. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $2.00 per share until February 9, 2013. The fair value of the units issued was determined to be $15,896 on the date they were issued and the Company recorded consulting fees of $15,896 on the statement of operations for the year ended September 30, 2012. The fair value of the shares included in the units was determined with reference to their quoted market price and the value of the warrants was determined using the Black-Scholes model with the following assumptions: exercise price - $2.00, stock price - $1.74, expected volatility – 84.88%, expected life – 1.0 years, risk free interest rate – 0.15%, dividend yield – 0.00%. | ||
On February 9, 2012, the Company issued 270,000 units at $1.25 per unit for proceeds of $337,500 pursuant to private placement agreements. Each unit consisted of one common share and one-half common share purchase warrant entitling the holder to purchase additional common shares at $2.00 per share until February 9, 2013. The Company paid a finder’s fee of $33,750 in connection with this private placement. During the six months ended March 31, 2014, the Company recorded a recovery of $25,150 in respect of these finder’s fees, which has been recorded as additional paid in capital. | ||
On May 31, 2012, the Company issued 2,700,513 units in settlement of $1,297,889 in promissory notes and $52,367 of accrued interest on these notes, which was included in accounts payable and accrued liabilities Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $0.75 per share until November 30, 2013. | ||
On June 26, 2012, the Company agreed to issue 75,000 common shares to the former president of the Company for past services and in final settlement of a consulting agreement dated February 1, 2007. These shares were issued on July 12, 2012. | ||
On July 5, 2013, the Company issued 4,208,910 units in settlement of $549,000 in promissory notes, $26,058 of accrued interest on these notes, which was included in accounts payable and accrued liabilities, and $1,108,506 in other accounts payable and accrued liabilities. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $0.75 per share until July 5, 2018. | ||
On July 5, 2013, the Company issued 2,196,133 units at $0.40 per unit for gross proceeds of $878,453 pursuant to private placement agreements. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $0.75 per share until July 5, 2018. The Company paid finder’s fees of $89,680 and issued warrants to purchase 43,923 shares of common stock at $0.75 per share until July 5, 2018 in connection with this private placement. In addition, the Company incurred share issuance costs of $16,494. | ||
All of the 6,448,966 warrant agreements issued on July 5, 2013 contain a contingent call provision whereby the Company may have the option to call for cancellation all or any portion of the warrants for consideration equal to $0.001 per share, provided the quoted market price of the Company’s common stock exceeds $1.50 for a period of twenty consecutive trading days, subject to certain minimum volume restrictions and other restrictions as provided in the warrant agreements. | ||
On February 24, 2014, the Company issued 120,000 units at $0.50 per unit for gross proceeds of $60,000, which was received during the year ended September 30, 2013. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $1.00 per share for a period of five years from the date of issuance. | ||
On February 24, 2014, the Company issued 500,000 units at $0.30 per unit for gross proceeds of $150,000. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $0.75 per share for a period of five years from the date of issuance. | ||
Common stock to be issued | ||
On February 28, 2014, the Company received $30,000 in share subscriptions in respect of the issuance of 100,000 units at $0.30 per unit. Each unit consisted of one common share and one common share purchase warrant entitling the holder to purchase additional common shares at $0.75 per share for a period of five years from the date of issuance. |
Lincoln_Park_Purchase_Agreemen
Lincoln Park Purchase Agreement | 6 Months Ended | |
Mar. 31, 2014 | ||
Lincoln Park Purchase Agreement [Text Block] | ' | |
Note 8 | Lincoln Park Purchase Agreement | |
On July 5, 2013, the Company entered into a $10,000,000 purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC, (“Lincoln Park”) an Illinois limited liability company (the “Financing”) pursuant to which the Company may sell and issue to Lincoln Park, and Lincoln Park is obligated to purchase, up to $10,000,000 in value of its shares of common stock from time to time over a 25 month period. In connection with the Financing, the Company also entered into a registration rights agreement with Lincoln Park whereby the Company agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the shares of the Company’s common stock that may be issued to Lincoln Park under the Purchase Agreement. | ||
The Company will determine, at its own discretion, the timing and amount of its sales of common stock, subject to certain conditions and limitations. The purchase price of the shares that may be sold to Lincoln Park under the Purchase Agreement will be based on the market price of the Company’s shares of common stock immediately preceding the time of sale without any fixed discount, provided that in no event will such shares be sold to Lincoln Park when the closing sale price is less than $0.50 per share. There are no upper limits on the per share price that Lincoln Park may pay to purchase such common stock. The purchase price will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split or similar transaction occurring during the business days used to compute such price. | ||
Pursuant to the Purchase Agreement, Lincoln Park initially purchased 250,000 shares of the Company’s common stock for $100,000. In consideration for entering into the Purchase Agreement, the Company issued to Lincoln Park 341,858 shares of common stock as a commitment fee and shall issue up to 133,409 shares pro rata, when and if, Lincoln Park purchases, at the Company’s discretion, the remaining $10,000,000 aggregate commitment. The Purchase Agreement may be terminated by the Company at any time at its discretion without any cost to the Company. | ||
On October 23, 2013, the registration statement was declared effective by the SEC. | ||
The Company incurred $98,939 in direct expenses in connection with the Purchase Agreement and registration statement. These were recorded as share issuance costs as a charge against additional paid in capital during the year ended September 30, 2013 and during the six months ended March 31, 2014. | ||
During the six months ended March 31, 2014, the Company issued to Lincoln Park an aggregate of 402,510 shares of common stock under the Purchase Agreement, including 400,000 shares of common stock for an aggregate purchase price of $188,170 and 2,510 commitment shares. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | ||
Mar. 31, 2014 | |||
Related Party Transactions [Text Block] | ' | ||
Note 9 | Related Party Transactions | ||
During the three and six months ended March 31, 2014, the Company was charged consulting fees totaling $Nil and $Nil, respectively (2013: $10,654 and $81,072, respectively) by directors, officers of the Company. | |||
As of March 31, 2014, included in accounts payable and accrued liabilities was $23,196 (September 30, 2013: $30,447) owing to directors and officers of the Company and a former director and officer of the Company. | |||
During the year ended September 30, 2013, pursuant to an employment agreement with the President, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer, and Director, of the Company, the Company: | |||
i) | granted 2,000,000 fully vested share purchase options exercisable at $0.40 per share until July 5, 2023. No stock based compensation expense has been recognized during the three months ended March 31, 2014 and 2012 in connection with these options. The Company recognized stock based compensation expense of $1,002,500 during the year ended September 30, 2013 in connection with these options. | ||
ii) | issued 4,000,000 shares of restricted common stock that vest as follows: | ||
• | 25% upon the Company starting a Phase Ib/IIb human study | ||
• | 25% upon the Company in-licensing additional assets in clinical or pre-clinical stage (vested during the six months ended March 31, 2014) | ||
• | 25% upon the Company securing additional non-dilutive equity funding in 2013 of at least $5,000,000 with a share price higher than the previous funding | ||
• | 25% upon the Company obtaining a listing on a major stock exchange | ||
Included in operating results for the three and six months ended March 31, 2014 is an amount of $610,000 relating to the vesting of 1,000,000 shares of restricted common stock upon the achievement of certain performance conditions. The fair value of $0.61 per share was determined with reference to the quoted market price of the Company’s shares on the commitment date. This amount has been included in common stock to be issued at March 31, 2014. | |||
Included in operating results for the period from January 23, 2004 (Date of inception) to March 31, 2014 is $18,375 in general and administrative expenses donated to the Company by the directors and $33,666 in debts forgiven by the directors of the Company. |
Commitments
Commitments | 6 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Commitments [Text Block] | ' | ||||||||||||||||||
Note 10 | Commitments | ||||||||||||||||||
a) | Share Purchase Warrants | ||||||||||||||||||
A summary of the Company’s share purchase warrants outstanding is presented below: | |||||||||||||||||||
Weighted | |||||||||||||||||||
Average | |||||||||||||||||||
Exercise | |||||||||||||||||||
Number of Shares | Price | ||||||||||||||||||
Balance, September 30, 2012 | 4,250,141 | $ | 1.16 | ||||||||||||||||
Expired | (1,549,628 | ) | $ | 2.56 | |||||||||||||||
Issued | 6,448,966 | $ | 0.75 | ||||||||||||||||
Balance, September 30, 2013 | 9,149,479 | $ | 0.75 | ||||||||||||||||
Expired | (2,700,513 | ) | $ | 0.75 | |||||||||||||||
Issued | 68,286,666 | $ | 0.36 | ||||||||||||||||
Balance, March 31, 2014 | 74,735,632 | $ | 0.4 | ||||||||||||||||
At March 31, 2014, the Company had 74,735,632 share purchase warrants outstanding as follows: | |||||||||||||||||||
Number | Exercise Price | Expiry Date | |||||||||||||||||
6,448,966 | $ | 0.75 | 5-Jul-18 | ||||||||||||||||
500,000 | $ | 0.75 | 14-Feb-19 | ||||||||||||||||
120,000 | $ | 1 | 24-Feb-19 | ||||||||||||||||
33,833,333 | $ | 0.3 | 13-Mar-19 | ||||||||||||||||
33,833,333 | $ | 0.42 | 13-Mar-19 | ||||||||||||||||
74,735,632 | |||||||||||||||||||
All of the 6,448,966 warrants expiring on July 5, 2018 and the 500,000 warrants expiring February 14, 2019 contain a contingent call provision whereby the Company may have the option to call for cancellation of all or any portion of the warrants for consideration equal to $0.001 per share, provided the quoted market price of the Company’s common stock exceeds $1.50 for a period of twenty consecutive trading days, subject to certain minimum volume restrictions and other restrictions as provided in the warrant agreements. | |||||||||||||||||||
b) | Stock–based Compensation Plan | ||||||||||||||||||
In April, 2007, the Company adopted a stock option plan which provides for the granting of stock options to selected directors, officers, employees or consultants in an aggregate amount of up to 3,000,000 common shares of the Company and, in any case, the number of shares to be issued to any one individual pursuant to the exercise of options shall not exceed 10% of the issued and outstanding share capital. The granting of stock options, exercise prices and terms are determined by the Company's Board of Directors. If no vesting schedule is specified by the Board of Directors on the grant of options, then the options shall vest over a 4 -year period with 25% of the options granted vesting each year commencing 1 year from the grant date. For stockholders who have greater than 10% of the outstanding common shares of the Company and who have granted options, the exercise price of their options shall not be less than 110% of the fair of the stock on grant date. Otherwise, options granted shall have an exercise price equal to their fair value on grant date. | |||||||||||||||||||
On February 2, 2011, the Company amended and restated the 2007 stock option plan to increase the number of options authorized to 4,000,000. | |||||||||||||||||||
A summary of the status of Company’s outstanding stock purchase options for the year ended March 31, 2014 is presented below: | |||||||||||||||||||
Weighted | |||||||||||||||||||
Average | Weighted Average | ||||||||||||||||||
Number of | Exercise | Grant Date fair | |||||||||||||||||
Shares | Price | value | |||||||||||||||||
Outstanding at September 30, 2012 | 1,775,000 | $ | 2.94 | ||||||||||||||||
Expired | (550,000 | ) | $ | 3.86 | |||||||||||||||
Forfeited | (150,000 | ) | $ | 3.72 | |||||||||||||||
Granted | 2,000,000 | $ | 0.4 | $ | 0.5 | ||||||||||||||
Outstanding at September 30, 2013 | 3,075,000 | $ | 1.26 | ||||||||||||||||
Expired | (505,000 | ) | $ | 2.5 | |||||||||||||||
Outstanding at March 31, 2014 | 2,570,000 | $ | 1.02 | ||||||||||||||||
Exercisable at March 31, 2014 | 2,300,000 | $ | 0.79 | ||||||||||||||||
Exercisable at September 30, 2013 | 2,305,000 | $ | 0.79 | ||||||||||||||||
At March 31, 2014, the following stock options were outstanding: | |||||||||||||||||||
Number of Shares | Aggregate | Remaining | |||||||||||||||||
Number | Exercise | Intrinsic | Contractual | ||||||||||||||||
Total | Vested | Price | Expiry Date | Value | Life (yrs) | ||||||||||||||
150,000 | (1 | ) | 150,000 | $ | 3.1 | 30-Jun-14 | - | 0.25 | |||||||||||
50,000 | (2 | ) | 50,000 | $ | 3.5 | 30-Jun-14 | - | 0.25 | |||||||||||
100,000 | (3 | ) | 100,000 | $ | 3.67 | 30-Mar-16 | - | 2 | |||||||||||
270,000 | (4 | ) | - | $ | 3 | 8-Feb-17 | - | 2.86 | |||||||||||
2,000,000 | (5 | ) | 2,000,000 | $ | 0.4 | 5-Jul-23 | - | 9.27 | |||||||||||
2,570,000 | 2,300,000 | - | |||||||||||||||||
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted market price of the Company’s stock for the options that were in-the-money at March 31, 2014. | |||||||||||||||||||
-1 | As of March 31, 2014 and September 30, 2013, these options had fully vested. The Company did not recognize any stock-based compensation for these options during the six months ended March 31, 2014 (2013: $Nil). | ||||||||||||||||||
-2 | As of March 31, 2014 and September 30, 2013, these options had fully vested. The Company did not recognize any stock-based compensation during the six months ended March 31, 2014 (2013: $nil). | ||||||||||||||||||
-3 | As of March 31, 2014 and September 30, 2013, these options had fully vested. The fair value of these options at issuance was calculated to be $267,000. The Company did not recognize any stock-based compensation during the three months ended March 31, 2014 (2013: $Nil). | ||||||||||||||||||
-4 | As of March 31, 2014 and September 30, 2013, these options had not vested. The options vest upon one or more compounds: entering Phase II trial – 90,000 options; entering Phase III trial – 90,000 options; and receiving FDA approval – 90,000 options. No stock-based compensation has been recorded in the financial statements as none of the performance conditions have yet been met. | ||||||||||||||||||
-5 | As of March 31, 2014 and September 30, 2013 these options had fully vested. These options were granted during the year ended September 30, 2013 and vested immediately upon granting. The Company recognized stock based compensation expense of $Nil during the six months ended March 31, 2014 (2013: $Nil) in connection with these options. | ||||||||||||||||||
During the six months ended March 31, 2014, 505,000 options expired for which the Company had recognized stock-based compensation of $Nil (2013: $Nil) during the three months ended March 31, 2014. | |||||||||||||||||||
At March 31, 2014, the following summarizes the unvested stock options: | |||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||
Number of | Exercise | Grant-Date | |||||||||||||||||
Shares | Price | Fair Value | |||||||||||||||||
Unvested options at September 30, 2012 | 870,000 | $ | 2.81 | $ | 1.82 | ||||||||||||||
Granted | 2,000,000 | $ | 0.4 | $ | 0.5 | ||||||||||||||
Expired | (100,000 | ) | $ | 3.86 | $ | 2.49 | |||||||||||||
Vested | (2,000,000 | ) | $ | 0.4 | $ | 0.5 | |||||||||||||
Unvested options at September 30, 2013 | 770,000 | $ | 2.68 | $ | 1.74 | ||||||||||||||
Expired | (500,000 | ) | $ | 2.5 | $ | 1.48 | |||||||||||||
Unvested options at March 31, 2014 | 270,000 | $ | 3 | $ | 2.21 | ||||||||||||||
As of March 31, 2014, there was no unrecognized compensation cost associated with unvested share-based compensation awards that will become vested exclusive of achieving any performance milestones that is expected to be recognized in the current fiscal year. There has been no stock-based compensation recognized in the financial statements for the six months ended March 31, 2014 (2013: $nil) for options that will vest upon the achievement of performance milestones because the Company has determined that satisfaction of the performance milestones was not probable. Compensation relating to stock options exercisable upon achieving performance milestones will be recognized in the period the milestones are achieved. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 6 Months Ended | |
Mar. 31, 2014 | ||
Supplemental Cash Flow Information [Text Block] | ' | |
Note 11 | Supplemental Cash Flow Information | |
Investing and financing activities that do not have a direct impact on current cash flows are excluded from the statement of cash flows. | ||
During the six months ended March 31, 2014, the Company reclassified an amount of $221,000 into equity upon modification of the terms of certain derivative instruments. | ||
During the six months ended March 31, 2013, the Company issued three promissory notes in the aggregate principal amount of $212,292 in exchange for accounts payable owing to three vendors in respect of unpaid consulting fees. | ||
These transactions have been excluded from the statements of cash flows. |
Subsequent_Events
Subsequent Events | 6 Months Ended | |
Mar. 31, 2014 | ||
Subsequent Events [Text Block] | ' | |
Note 12 | Subsequent Events | |
On May 6, 2014, in favor of new directors Bernd Metzner, PhD and Elliot Favus, MD, the Company’s board of directors (the “Board”) approved the grant to each of options to purchase one hundred fifty thousand (150,000) shares of Company common stock at the closing market price for the common stock as of May 7, 2014 ($0.30), with said options to vest annually over a three year period commencing on the first anniversary of the date of each director’s appointment, as applicable. | ||
On May 9, 2014, the Board approved a cash bonus in the amount of $400,000 to the Company’s President and CEO, Christopher Missling, related to the Company’s success in securing $10,000,000 in financing under the March 13, 2014 Securities Purchase Agreement (the “March Financing”). Additionally, the Board granted to Mr. Missling 500,000 options to purchase shares of the Company’s common stock at a price per share equal to the common stock’s closing price on May 8, 2014 ($0.33). The Board determined that the March Financing constituted the achievement of certain milestones under Mr. Missling employment agreement, entitling Mr. Missling to receive the applicable distributions and benefits thereunder. |
Equipment_Tables
Equipment (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | Sep. 30, 2013 | |||||||||||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | ' | ' | ||||||||||||||||||||
31-Mar-14 | 30-Sep-13 | |||||||||||||||||||||
Accumulated | Accumulated | |||||||||||||||||||||
Cost | Depreciation | Net | Cost | Depreciation | Net | |||||||||||||||||
Computer equipment | $ | 2,327 | $ | 384 | $ | 1,943 | Computer equipment | $ | 5,631 | $ | 5,631 | $ | - |
Derivative_Liabilities_Tables
Derivative Liabilities (Tables) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Derivative Liabilities Activity [Table Text Block] | ' | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Balance, beginning of the period | $ | 904,000 | $ | - | ||||
Fair value at issuance of derivative liability | - | 919,000 | ||||||
Change in fair value of derivative liability | (683,000 | ) | (15,000 | ) | ||||
Transfer to equity upon modification of warrant terms | (221,000 | ) | - | |||||
Balance, end of the period | $ | - | $ | 904,000 |
Promissory_Notes_Payable_Table
Promissory Notes Payable (Tables) | 6 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Schedule of Debt [Table Text Block] | ' | |||||||
March 31, | September 30, | |||||||
2014 | 2013 | |||||||
Promissory note dated December 31, 2012 with a principal balance of $90,390 (CDN$100,000) bearing interest at 12% per annum, due on June 30, 2014 | 90,390 | 100,000 | ||||||
Promissory note dated January 9, 2013 with a principal balance of $78,348 (CDN$86,677), bearing interest at 12% per annum, secured by all the present and future assets of the Company; due on demand | 78,348 | 84,060 | ||||||
Promissory note dated January 9, 2013 with a principal balance of $24,982 (CDN$27,639), bearing interest at 12% per annum, secured by all the present and future assets of the Company; due on demand | 24,982 | 26,803 | ||||||
193,720 | 210,863 | |||||||
Less: current portion | (193,720 | ) | (210,863 | ) | ||||
$ | - | $ | - |
Senior_Convertible_Debentures_
Senior Convertible Debentures (Tables) | 6 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Schedule Of Convertible Debt [Table Text Block] | ' | |||||||||
March 31, | September 30, | |||||||||
2014 | 2013 | |||||||||
Senior Convertible Debentures, non-interest bearing, unsecured, due March 18, 2044 | 10,000,000 | - | ||||||||
Less: Debt Discount | (9,998,989 | ) | - | |||||||
1,011 | - | |||||||||
Less: current portion | (1,011 | ) | - | |||||||
$ | - | $ | - | |||||||
Company Issuance of Share Purchase Warrants [Table Text Block] | ' | |||||||||
Non- | ||||||||||
Purchasers | purchasers | Total | ||||||||
Series A Warrants | 33,333,333 | 500,000 | 33,833,333 | |||||||
Series B Warrants | 33,333,333 | 500,000 | 33,833,333 | |||||||
66,666,666 | 1,000,000 | 67,666,666 | ||||||||
Fair Value of the Purchaser and Non-Purchaser Warrants at Issuance [Table Text Block] | ' | |||||||||
Risk-free interest rate | 1.56% | |||||||||
Expected life (years) | 5 | |||||||||
Expected volatility | 97.16% | |||||||||
Dividend yields | 0.00% |
Commitments_Tables
Commitments (Tables) | 6 Months Ended | ||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | ' | ||||||||||||||||||
Weighted | |||||||||||||||||||
Average | |||||||||||||||||||
Exercise | |||||||||||||||||||
Number of Shares | Price | ||||||||||||||||||
Balance, September 30, 2012 | 4,250,141 | $ | 1.16 | ||||||||||||||||
Expired | (1,549,628 | ) | $ | 2.56 | |||||||||||||||
Issued | 6,448,966 | $ | 0.75 | ||||||||||||||||
Balance, September 30, 2013 | 9,149,479 | $ | 0.75 | ||||||||||||||||
Expired | (2,700,513 | ) | $ | 0.75 | |||||||||||||||
Issued | 68,286,666 | $ | 0.36 | ||||||||||||||||
Balance, March 31, 2014 | 74,735,632 | $ | 0.4 | ||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||||||||||||
Number | Exercise Price | Expiry Date | |||||||||||||||||
6,448,966 | $ | 0.75 | 5-Jul-18 | ||||||||||||||||
500,000 | $ | 0.75 | 14-Feb-19 | ||||||||||||||||
120,000 | $ | 1 | 24-Feb-19 | ||||||||||||||||
33,833,333 | $ | 0.3 | 13-Mar-19 | ||||||||||||||||
33,833,333 | $ | 0.42 | 13-Mar-19 | ||||||||||||||||
74,735,632 | |||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||
Weighted | |||||||||||||||||||
Average | Weighted Average | ||||||||||||||||||
Number of | Exercise | Grant Date fair | |||||||||||||||||
Shares | Price | value | |||||||||||||||||
Outstanding at September 30, 2012 | 1,775,000 | $ | 2.94 | ||||||||||||||||
Expired | (550,000 | ) | $ | 3.86 | |||||||||||||||
Forfeited | (150,000 | ) | $ | 3.72 | |||||||||||||||
Granted | 2,000,000 | $ | 0.4 | $ | 0.5 | ||||||||||||||
Outstanding at September 30, 2013 | 3,075,000 | $ | 1.26 | ||||||||||||||||
Expired | (505,000 | ) | $ | 2.5 | |||||||||||||||
Outstanding at March 31, 2014 | 2,570,000 | $ | 1.02 | ||||||||||||||||
Exercisable at March 31, 2014 | 2,300,000 | $ | 0.79 | ||||||||||||||||
Exercisable at September 30, 2013 | 2,305,000 | $ | 0.79 | ||||||||||||||||
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||||||||||||
Number of Shares | Aggregate | Remaining | |||||||||||||||||
Number | Exercise | Intrinsic | Contractual | ||||||||||||||||
Total | Vested | Price | Expiry Date | Value | Life (yrs) | ||||||||||||||
150,000 | (1 | ) | 150,000 | $ | 3.1 | 30-Jun-14 | - | 0.25 | |||||||||||
50,000 | (2 | ) | 50,000 | $ | 3.5 | 30-Jun-14 | - | 0.25 | |||||||||||
100,000 | (3 | ) | 100,000 | $ | 3.67 | 30-Mar-16 | - | 2 | |||||||||||
270,000 | (4 | ) | - | $ | 3 | 8-Feb-17 | - | 2.86 | |||||||||||
2,000,000 | (5 | ) | 2,000,000 | $ | 0.4 | 5-Jul-23 | - | 9.27 | |||||||||||
2,570,000 | 2,300,000 | - | |||||||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||
Average | Average | ||||||||||||||||||
Number of | Exercise | Grant-Date | |||||||||||||||||
Shares | Price | Fair Value | |||||||||||||||||
Unvested options at September 30, 2012 | 870,000 | $ | 2.81 | $ | 1.82 | ||||||||||||||
Granted | 2,000,000 | $ | 0.4 | $ | 0.5 | ||||||||||||||
Expired | (100,000 | ) | $ | 3.86 | $ | 2.49 | |||||||||||||
Vested | (2,000,000 | ) | $ | 0.4 | $ | 0.5 | |||||||||||||
Unvested options at September 30, 2013 | 770,000 | $ | 2.68 | $ | 1.74 | ||||||||||||||
Expired | (500,000 | ) | $ | 2.5 | $ | 1.48 | |||||||||||||
Unvested options at March 31, 2014 | 270,000 | $ | 3 | $ | 2.21 |
Business_Description_Basis_of_1
Business Description, Basis of Presentation and Liquidity (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
M | |
Business Description, Basis Of Presentation And Liquidity 1 | $10,000,000 |
Business Description, Basis Of Presentation And Liquidity 2 | 12 |
Business Description, Basis Of Presentation And Liquidity 3 | 77,305,632 |
Business Description, Basis Of Presentation And Liquidity 4 | 4,697,847 |
Derivative_Liabilities_Narrati
Derivative Liabilities (Narrative) (Details) | 6 Months Ended |
Mar. 31, 2014 | |
Derivative Liabilities 1 | 6,448,966 |
Promissory_Notes_Payable_Narra
Promissory Notes Payable (Narrative) (Details) | 6 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2014 | |
USD ($) | CAD | |
D | ||
Promissory Notes Payable 1 | $90,390 | ' |
Promissory Notes Payable 2 | ' | 100,000 |
Promissory Notes Payable 3 | 12.00% | 12.00% |
Promissory Notes Payable 4 | 78,348 | ' |
Promissory Notes Payable 5 | ' | 86,677 |
Promissory Notes Payable 6 | 12.00% | 12.00% |
Promissory Notes Payable 7 | 24,982 | ' |
Promissory Notes Payable 8 | ' | 27,639 |
Promissory Notes Payable 9 | 12.00% | 12.00% |
Promissory Notes Payable 10 | 10 | 10 |
Promissory Notes Payable 11 | 100 | ' |
Promissory Notes Payable 12 | $500 | ' |
Senior_Convertible_Debentures_1
Senior Convertible Debentures (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Senior Secured Convertible Debentures 1 | $10,000,000 |
Senior Secured Convertible Debentures 2 | 67,666,666 |
Senior Secured Convertible Debentures 3 | $0.30 |
Senior Secured Convertible Debentures 4 | $0.42 |
Senior Secured Convertible Debentures 5 | $0.30 |
Senior Secured Convertible Debentures 6 | 22,326,200 |
Senior Secured Convertible Debentures 7 | 5,989,900 |
Senior Secured Convertible Debentures 8 | 4,010,100 |
Senior Secured Convertible Debentures 9 | 10,000,000 |
Senior Secured Convertible Debentures 10 | 1,011 |
Senior Secured Convertible Debentures 11 | 0 |
Senior Secured Convertible Debentures 12 | 1,000,000 |
Senior Secured Convertible Debentures 13 | 334,900 |
Senior Secured Convertible Debentures 14 | 734,840 |
Senior Secured Convertible Debentures 15 | 1,199 |
Senior Secured Convertible Debentures 16 | 0 |
Senior Secured Convertible Debentures 17 | 1,199 |
Senior Secured Convertible Debentures 18 | $0 |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Y | |
Capital Stock 1 | 25,000,000 |
Capital Stock 2 | 150,000,000 |
Capital Stock 3 | 222,222 |
Capital Stock 4 | $3.60 |
Capital Stock 5 | $800,000 |
Capital Stock 6 | 333,000 |
Capital Stock 7 | 92,500 |
Capital Stock 8 | $3.60 |
Capital Stock 9 | 150,000 |
Capital Stock 10 | $3.50 |
Capital Stock 11 | 525,000 |
Capital Stock 12 | $5 |
Capital Stock 13 | 10,000 |
Capital Stock 14 | $4.50 |
Capital Stock 15 | 45,000 |
Capital Stock 16 | 50,000 |
Capital Stock 17 | $3.86 |
Capital Stock 18 | 193,000 |
Capital Stock 19 | 65,000 |
Capital Stock 20 | 65,000 |
Capital Stock 21 | $5.24 |
Capital Stock 22 | 340,600 |
Capital Stock 23 | 25,000 |
Capital Stock 24 | $5.07 |
Capital Stock 25 | 126,750 |
Capital Stock 26 | 142,698 |
Capital Stock 27 | $4.25 |
Capital Stock 28 | 606,467 |
Capital Stock 29 | $5 |
Capital Stock 30 | 25,000 |
Capital Stock 31 | $2.63 |
Capital Stock 32 | 65,750 |
Capital Stock 33 | 25,000 |
Capital Stock 34 | $2.50 |
Capital Stock 35 | 62,500 |
Capital Stock 36 | 89,148 |
Capital Stock 37 | $2.25 |
Capital Stock 38 | 200,583 |
Capital Stock 39 | $4 |
Capital Stock 40 | 10,800 |
Capital Stock 41 | $2.25 |
Capital Stock 42 | 24,300 |
Capital Stock 43 | $4 |
Capital Stock 44 | 2,500 |
Capital Stock 45 | $2 |
Capital Stock 46 | 5,000 |
Capital Stock 47 | 75,000 |
Capital Stock 48 | 36,000 |
Capital Stock 49 | $2.25 |
Capital Stock 50 | 81,000 |
Capital Stock 51 | $4 |
Capital Stock 52 | 8,100 |
Capital Stock 53 | 29,227 |
Capital Stock 54 | $2.25 |
Capital Stock 55 | 495,556 |
Capital Stock 56 | $2.25 |
Capital Stock 57 | 1,115,000 |
Capital Stock 58 | $2.25 |
Capital Stock 59 | 22,222 |
Capital Stock 60 | $2.51 |
Capital Stock 61 | 500,000 |
Capital Stock 62 | 128,888 |
Capital Stock 63 | $2.25 |
Capital Stock 64 | 289,998 |
Capital Stock 65 | 40,000 |
Capital Stock 66 | $4 |
Capital Stock 67 | 88,888 |
Capital Stock 68 | $2.25 |
Capital Stock 69 | 19,000 |
Capital Stock 70 | 266,666 |
Capital Stock 71 | $2.25 |
Capital Stock 72 | 600,000 |
Capital Stock 73 | $2.25 |
Capital Stock 74 | 300,000 |
Capital Stock 75 | 49,505 |
Capital Stock 76 | $2.02 |
Capital Stock 77 | 92,499 |
Capital Stock 78 | $2.60 |
Capital Stock 79 | 240,498 |
Capital Stock 80 | $3.50 |
Capital Stock 81 | 9,825 |
Capital Stock 82 | $2.85 |
Capital Stock 83 | 941,000 |
Capital Stock 84 | $2.50 |
Capital Stock 85 | 2,352,500 |
Capital Stock 86 | $3.50 |
Capital Stock 87 | 400,000 |
Capital Stock 88 | 1,000,000 |
Capital Stock 89 | 3.5 |
Capital Stock 90 | 1,444,000 |
Capital Stock 91 | 444,000 |
Capital Stock 92 | 3.5 |
Capital Stock 93 | 3.15 |
Capital Stock 94 | 68.45% |
Capital Stock 95 | 1.5 |
Capital Stock 96 | 0.00% |
Capital Stock 97 | 163,000 |
Capital Stock 98 | $2.75 |
Capital Stock 99 | 448,250 |
Capital Stock 100 | $3.75 |
Capital Stock 101 | 9,000 |
Capital Stock 102 | $2.75 |
Capital Stock 103 | $3.75 |
Capital Stock 104 | 510,638 |
Capital Stock 105 | $2.35 |
Capital Stock 106 | 82,310 |
Capital Stock 107 | $2.25 |
Capital Stock 108 | $3.50 |
Capital Stock 109 | 245,748 |
Capital Stock 110 | $2.25 |
Capital Stock 111 | $3 |
Capital Stock 112 | 393,846 |
Capital Stock 113 | $2.75 |
Capital Stock 114 | 1,083,075 |
Capital Stock 115 | $4.50 |
Capital Stock 116 | 65,363 |
Capital Stock 117 | 3,636 |
Capital Stock 118 | $2.75 |
Capital Stock 119 | $4.50 |
Capital Stock 120 | 853,075 |
Capital Stock 121 | 2.5 |
Capital Stock 122 | 504,160 |
Capital Stock 123 | $3 |
Capital Stock 124 | 3 |
Capital Stock 125 | 4.12 |
Capital Stock 126 | 78.33% |
Capital Stock 127 | 2 |
Capital Stock 128 | 0.00% |
Capital Stock 129 | 0.52% |
Capital Stock 130 | 145,063 |
Capital Stock 131 | $4.12 |
Capital Stock 132 | 398,922 |
Capital Stock 133 | 26,032 |
Capital Stock 134 | 198,738 |
Capital Stock 135 | 181,818 |
Capital Stock 136 | $4.12 |
Capital Stock 137 | 500,000 |
Capital Stock 138 | 249,090 |
Capital Stock 139 | 29,851 |
Capital Stock 140 | $3.35 |
Capital Stock 141 | 100,000 |
Capital Stock 142 | $4.50 |
Capital Stock 143 | 2,985 |
Capital Stock 144 | $3.35 |
Capital Stock 145 | $4.50 |
Capital Stock 146 | 61,014 |
Capital Stock 147 | $3.75 |
Capital Stock 148 | 228,800 |
Capital Stock 149 | $5.25 |
Capital Stock 150 | 33,334 |
Capital Stock 151 | $3 |
Capital Stock 152 | 100,000 |
Capital Stock 153 | $4 |
Capital Stock 154 | 700,000 |
Capital Stock 155 | $2.25 |
Capital Stock 156 | 1,575,000 |
Capital Stock 157 | 650,000 |
Capital Stock 158 | 975,000 |
Capital Stock 159 | $2 |
Capital Stock 160 | 84,963 |
Capital Stock 161 | 975,000 |
Capital Stock 162 | 84,963 |
Capital Stock 163 | 2 |
Capital Stock 164 | 1.5 |
Capital Stock 165 | 69.00% |
Capital Stock 166 | 1 |
Capital Stock 167 | 0.00% |
Capital Stock 168 | 0.10% |
Capital Stock 169 | 615,600 |
Capital Stock 170 | $1.25 |
Capital Stock 171 | 769,500 |
Capital Stock 172 | $2 |
Capital Stock 173 | 77,000 |
Capital Stock 174 | 8,000 |
Capital Stock 175 | $2 |
Capital Stock 176 | 15,896 |
Capital Stock 177 | 15,896 |
Capital Stock 178 | 2 |
Capital Stock 179 | 1.74 |
Capital Stock 180 | 84.88% |
Capital Stock 181 | 1 |
Capital Stock 182 | 0.15% |
Capital Stock 183 | 0.00% |
Capital Stock 184 | 270,000 |
Capital Stock 185 | $1.25 |
Capital Stock 186 | 337,500 |
Capital Stock 187 | $2 |
Capital Stock 188 | 33,750 |
Capital Stock 189 | 25,150 |
Capital Stock 190 | 2,700,513 |
Capital Stock 191 | 1,297,889 |
Capital Stock 192 | 52,367 |
Capital Stock 193 | $0.75 |
Capital Stock 194 | 75,000 |
Capital Stock 195 | 4,208,910 |
Capital Stock 196 | 549,000 |
Capital Stock 197 | 26,058 |
Capital Stock 198 | 1,108,506 |
Capital Stock 199 | $0.75 |
Capital Stock 200 | 2,196,133 |
Capital Stock 201 | $0.40 |
Capital Stock 202 | 878,453 |
Capital Stock 203 | $0.75 |
Capital Stock 204 | 89,680 |
Capital Stock 205 | 43,923 |
Capital Stock 206 | $0.75 |
Capital Stock 207 | 16,494 |
Capital Stock 208 | 6,448,966 |
Capital Stock 209 | $0.00 |
Capital Stock 210 | 1.5 |
Capital Stock 211 | 120,000 |
Capital Stock 212 | $0.50 |
Capital Stock 213 | 60,000 |
Capital Stock 214 | $1 |
Capital Stock 215 | 500,000 |
Capital Stock 216 | $0.30 |
Capital Stock 217 | 150,000 |
Capital Stock 218 | $0.75 |
Capital Stock 219 | $30,000 |
Capital Stock 220 | 100,000 |
Capital Stock 221 | $0.30 |
Capital Stock 222 | $0.75 |
Lincoln_Park_Purchase_Agreemen1
Lincoln Park Purchase Agreement (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
M | |
Lincoln Park Purchase Agreement 1 | $10,000,000 |
Lincoln Park Purchase Agreement 2 | 10,000,000 |
Lincoln Park Purchase Agreement 3 | 25 |
Lincoln Park Purchase Agreement 4 | $0.50 |
Lincoln Park Purchase Agreement 5 | 250,000 |
Lincoln Park Purchase Agreement 6 | 100,000 |
Lincoln Park Purchase Agreement 7 | 341,858 |
Lincoln Park Purchase Agreement 8 | 133,409 |
Lincoln Park Purchase Agreement 9 | 10,000,000 |
Lincoln Park Purchase Agreement 10 | 98,939 |
Lincoln Park Purchase Agreement 11 | 402,510 |
Lincoln Park Purchase Agreement 12 | 400,000 |
Lincoln Park Purchase Agreement 13 | $188,170 |
Lincoln Park Purchase Agreement 14 | 2,510 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Related Party Transactions 1 | $0 |
Related Party Transactions 2 | 0 |
Related Party Transactions 3 | 10,654 |
Related Party Transactions 4 | 81,072 |
Related Party Transactions 5 | 23,196 |
Related Party Transactions 6 | 30,447 |
Related Party Transactions 7 | 2,000,000 |
Related Party Transactions 8 | $0.40 |
Related Party Transactions 9 | 1,002,500 |
Related Party Transactions 10 | 4,000,000 |
Related Party Transactions 11 | 25.00% |
Related Party Transactions 12 | 25.00% |
Related Party Transactions 13 | 25.00% |
Related Party Transactions 14 | 5,000,000 |
Related Party Transactions 15 | 25.00% |
Related Party Transactions 16 | 610,000 |
Related Party Transactions 17 | 1,000,000 |
Related Party Transactions 18 | $0.61 |
Related Party Transactions 19 | 18,375 |
Related Party Transactions 20 | $33,666 |
Commitments_Narrative_Details
Commitments (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Y | |
Commitments 1 | 74,735,632 |
Commitments 2 | 6,448,966 |
Commitments 3 | 500,000 |
Commitments 4 | $0.00 |
Commitments 5 | $1.50 |
Commitments 6 | 3,000,000 |
Commitments 7 | 10.00% |
Commitments 8 | 4 |
Commitments 9 | 25.00% |
Commitments 10 | 1 |
Commitments 11 | 10.00% |
Commitments 12 | 110.00% |
Commitments 13 | 4,000,000 |
Commitments 14 | 0 |
Commitments 15 | 0 |
Commitments 16 | 267,000 |
Commitments 17 | 0 |
Commitments 18 | 90,000 |
Commitments 19 | 90,000 |
Commitments 20 | 90,000 |
Commitments 21 | 0 |
Commitments 22 | 0 |
Commitments 23 | 505,000 |
Commitments 24 | 0 |
Commitments 25 | 0 |
Commitments 26 | $0 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Supplemental Cash Flow Information 1 | $221,000 |
Supplemental Cash Flow Information 2 | $212,292 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Subsequent Events 1 | -150,000 |
Subsequent Events 2 | $0.30 |
Subsequent Events 3 | 400,000 |
Subsequent Events 4 | 10,000,000 |
Subsequent Events 5 | 500,000 |
Subsequent Events 6 | $0.33 |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment (Details) (USD $) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Sep. 30, 2013 | |
Equipment Schedule Of Property, Plant And Equipment 1 | $2,327 | ' |
Equipment Schedule Of Property, Plant And Equipment 2 | 384 | ' |
Equipment Schedule Of Property, Plant And Equipment 3 | 1,943 | ' |
Equipment Schedule Of Property, Plant And Equipment 1 | ' | 5,631 |
Equipment Schedule Of Property, Plant And Equipment 2 | ' | 5,631 |
Equipment Schedule Of Property, Plant And Equipment 3 | ' | $0 |
Derivative_Liabilities_Activit
Derivative Liabilities Activity (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Derivative Liabilities Derivative Liabilities Activity 1 | $904,000 |
Derivative Liabilities Derivative Liabilities Activity 2 | 0 |
Derivative Liabilities Derivative Liabilities Activity 3 | 0 |
Derivative Liabilities Derivative Liabilities Activity 4 | 919,000 |
Derivative Liabilities Derivative Liabilities Activity 5 | -683,000 |
Derivative Liabilities Derivative Liabilities Activity 6 | -15,000 |
Derivative Liabilities Derivative Liabilities Activity 7 | -221,000 |
Derivative Liabilities Derivative Liabilities Activity 8 | 0 |
Derivative Liabilities Derivative Liabilities Activity 9 | 0 |
Derivative Liabilities Derivative Liabilities Activity 10 | $904,000 |
Schedule_of_Debt_Details
Schedule of Debt (Details) | 6 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2014 | |
USD ($) | CAD | |
Promissory Notes Payable Schedule Of Debt 1 | $90,390 | ' |
Promissory Notes Payable Schedule Of Debt 2 | ' | 100,000 |
Promissory Notes Payable Schedule Of Debt 3 | 12.00% | 12.00% |
Promissory Notes Payable Schedule Of Debt 4 | 90,390 | ' |
Promissory Notes Payable Schedule Of Debt 5 | 100,000 | ' |
Promissory Notes Payable Schedule Of Debt 6 | 78,348 | ' |
Promissory Notes Payable Schedule Of Debt 7 | ' | 86,677 |
Promissory Notes Payable Schedule Of Debt 8 | 12.00% | 12.00% |
Promissory Notes Payable Schedule Of Debt 9 | 78,348 | ' |
Promissory Notes Payable Schedule Of Debt 10 | 84,060 | ' |
Promissory Notes Payable Schedule Of Debt 11 | 24,982 | ' |
Promissory Notes Payable Schedule Of Debt 12 | ' | 27,639 |
Promissory Notes Payable Schedule Of Debt 13 | 12.00% | 12.00% |
Promissory Notes Payable Schedule Of Debt 14 | 24,982 | ' |
Promissory Notes Payable Schedule Of Debt 15 | 26,803 | ' |
Promissory Notes Payable Schedule Of Debt 16 | 193,720 | ' |
Promissory Notes Payable Schedule Of Debt 17 | 210,863 | ' |
Promissory Notes Payable Schedule Of Debt 18 | -193,720 | ' |
Promissory Notes Payable Schedule Of Debt 19 | -210,863 | ' |
Promissory Notes Payable Schedule Of Debt 20 | 0 | ' |
Promissory Notes Payable Schedule Of Debt 21 | $0 | ' |
Schedule_Of_Convertible_Debt_D
Schedule Of Convertible Debt (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 1 | $10,000,000 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 2 | 0 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 3 | -9,998,989 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 4 | 0 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 5 | 1,011 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 6 | 0 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 7 | -1,011 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 8 | 0 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 9 | 0 |
Senior Secured Convertible Debentures Schedule Of Convertible Debt 10 | $0 |
Company_Issuance_of_Share_Purc
Company Issuance of Share Purchase Warrants (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 1 | $33,333,333 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 2 | 500,000 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 3 | 33,833,333 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 4 | 33,333,333 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 5 | 500,000 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 6 | 33,833,333 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 7 | 66,666,666 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 8 | 1,000,000 |
Senior Secured Convertible Debentures Company Issuance Of Share Purchase Warrants 9 | $67,666,666 |
Fair_Value_of_the_Purchaser_an
Fair Value of the Purchaser and Non-Purchaser Warrants at Issuance (Details) | 6 Months Ended |
Mar. 31, 2014 | |
Senior Secured Convertible Debentures Set Schedule Title Here 1 | 1.56% |
Senior Secured Convertible Debentures Set Schedule Title Here 2 | 5 |
Senior Secured Convertible Debentures Set Schedule Title Here 3 | 97.16% |
Senior Secured Convertible Debentures Set Schedule Title Here 4 | 0.00% |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $4,250,141 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 1.16 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | -1,549,628 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 2.56 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 6,448,966 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0.75 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | 9,149,479 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | 0.75 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | -2,700,513 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 0.75 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 11 | 68,286,666 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 12 | 0.36 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 13 | $74,735,632 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 14 | 0.4 |
Schedule_of_Stockholders_Equit1
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $6,448,966 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 0.75 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 500,000 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 0.75 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | 120,000 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 6 | 1 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 7 | 33,833,333 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 8 | 0.3 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 9 | 33,833,333 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 10 | 0.42 |
Commitments Schedule Of Stockholders' Equity Note, Warrants Or Rights 11 | $74,735,632 |
Schedule_of_Sharebased_Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 1 | $1,775,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 2 | 2.94 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 3 | -550,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 4 | 3.86 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 5 | -150,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 6 | 3.72 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 7 | 2,000,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0.4 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 9 | 0.5 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 10 | 3,075,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 11 | 1.26 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 12 | -505,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 13 | 2.5 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 14 | 2,570,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 15 | 1.02 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 16 | 2,300,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 17 | 0.79 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 18 | $2,305,000 |
Commitments Schedule Of Share-based Compensation, Stock Options, Activity 19 | 0.79 |
Schedule_of_Disclosure_of_Shar
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $150,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | -1 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 150,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 3.1 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.25 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 50,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | -2 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 50,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 3.5 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 0.25 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 100,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | -3 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | 100,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 3.67 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 2 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 270,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | -4 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 3 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 2.86 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 2,000,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | -5 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 2,000,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 0.4 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 0 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 9.27 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 31 | 2,570,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 32 | 2,300,000 |
Commitments Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 33 | $0 |
Schedule_of_Nonvested_Share_Ac
Schedule of Nonvested Share Activity (Details) (USD $) | 6 Months Ended |
Mar. 31, 2014 | |
Commitments Schedule Of Nonvested Share Activity 1 | $870,000 |
Commitments Schedule Of Nonvested Share Activity 2 | 2.81 |
Commitments Schedule Of Nonvested Share Activity 3 | 1.82 |
Commitments Schedule Of Nonvested Share Activity 4 | 2,000,000 |
Commitments Schedule Of Nonvested Share Activity 5 | 0.4 |
Commitments Schedule Of Nonvested Share Activity 6 | 0.5 |
Commitments Schedule Of Nonvested Share Activity 7 | -100,000 |
Commitments Schedule Of Nonvested Share Activity 8 | 3.86 |
Commitments Schedule Of Nonvested Share Activity 9 | 2.49 |
Commitments Schedule Of Nonvested Share Activity 10 | -2,000,000 |
Commitments Schedule Of Nonvested Share Activity 11 | 0.4 |
Commitments Schedule Of Nonvested Share Activity 12 | 0.5 |
Commitments Schedule Of Nonvested Share Activity 13 | 770,000 |
Commitments Schedule Of Nonvested Share Activity 14 | 2.68 |
Commitments Schedule Of Nonvested Share Activity 15 | 1.74 |
Commitments Schedule Of Nonvested Share Activity 16 | -500,000 |
Commitments Schedule Of Nonvested Share Activity 17 | 2.5 |
Commitments Schedule Of Nonvested Share Activity 18 | 1.48 |
Commitments Schedule Of Nonvested Share Activity 19 | $270,000 |
Commitments Schedule Of Nonvested Share Activity 20 | 3 |
Commitments Schedule Of Nonvested Share Activity 21 | 2.21 |